CNPV Announces Concurrent Issuance of Convertible Bonds and Warrants

LUXEMBOURG and DONGYING, China, August 9, 2010 - CNPV Solar Power SA, a public limited liability company organized under
the laws of the Grand Duchy of Luxembourg with registered address at 23 Val
Fleuri, L-1526 Luxembourg and a leading integrated manufacturer of solar
photovoltaic products, announced today that, on July 8, 2010, it completed
the issuance of US$10 million convertible notes and the issuance of 2,050,249
warrants in a private placement transaction to the certain investors.

    (Logo: photos.prnewswire.com/prnh/20081103/CNM010LOGO )
    (Logo: www.newscom.com/cgi-bin/prnh/20081103/CNM010LOGO )

The notes will pay an interest at the annual rate of 20% and will mature
on June 1, 2011. The notes will be converted into preference shares or common
shares subject to the terms and conditions agreement set out between the
company and the convertible notes holders. The notes can be converted into
preferred shares where the number of the preference share is equal to the
quotient of the principal amount (plus accrued and unpaid interest) of the
Notes divided by the liquidation value of US$10,000. The notes are initially
convertible into such number of common shares equal to the quotient of the
principal amount (plus accrued and unpaid interest) of the Notes divided by
the conversion price of US$4.042896, subject to certain adjustments.
Notwithstanding the foregoing the total aggregate principal amount of the
notes shall always be convertible into such number of common shares of the
Company as shall constitute 29.66% of the total issued and outstanding common
shares of the Company at the time of conversion. It shall be noted that the
valuation method and ratios have been reviewed by a Luxembourg Auditor of the
Company in accordance with the applicable laws of the Grand Duchy of
Luxemburg.

In connection with the issuance of the convertible notes, the Company
issued to the purchasers of the convertible notes, warrants entitling them to
subscribe for a total of 2,050,249 new common shares of the Company to be
issued at a price of US$4.85 per share, subject to certain adjustments.

At the occasion of this extraordinary shareholders meeting, the Company
has decided to authorize the board of directors to put into place a stock
option plan in favour of the employees of the Company

CNPV intends to use the proceeds of the transaction for the expansion of
its global business and in particular manufacturing lines for the production
of silicon ingots, wafers, solar cells and solar modules, the purchase of raw
materials, research and development and other general corporate purposes.

This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, securities, and does not constitute an
offer, solicitation or sale in any jurisdiction in which such offer;
solicitation or sale would be unlawful.

About CNPV

CNPV Solar Power SA (NYSE Euronext: ALCNP), through its wholly-owned
subsidiary, CNPV Dongying Solar Power Company Limited, is a leading
integrated manufacturer of solar photovoltaic products from the production of
ingots, wafers and cells to the assembly of PV modules. CNPV designs,
manufactures and supplies highly efficient and cost effective crystalline
solar photovoltaic modules. For further information, please visit CNPV's
website at www.cnpv-power.com

For more information, please contact:

    B.Veerraju Chaudary,
    COO, CTO & Member of the Board
    CNPV Solar Power SA
    Direct Land Line: +86-546-7795053
    Mobile: +86-13656-473355
    Email: chaudary@cnpv-power.com

    CNPV Investor Relations Help Desk,
    Direct Land Line: +86-546-7795888
    Email: ir@cnpv-power.com

B.Veerraju Chaudary, COO, CTO & Member of the Board, CNPV Solar Power SA, +86-546-7795053 or +86-13656-473355, or chaudary at cnpv-power.com; Or CNPV Investor Relations Help Desk, +86-546-7795888, or ir at cnpv-power.com